The Watchman On The Wall

Eph 6:12 For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places. Verse 13 Wherefore take unto you the whole armour of God, that ye may be able to withstand in the evil day, and having done all, to stand.

Friday, June 16, 2017

Why Do Central Bankers Hate Cryptocurrencies?

Friends, I am pleased to announce that readership has passed 600,000 people worldwide.

Praise Yeshua!The US government is the most
bankrupt government in the history of the world. At $19.9 trillion, nothing
even comes close. The next closest are the EU and Japan with approximately $9
trillion in debt… not even half as much as the US!

And, when you add up all US government debt and liabilities
- which are things already spent but which need to be paid for in the future -
it works out to somewhere between $100 and $200 trillion.

The reason there is such a big gap in estimates is because
the US government hasn't actually been audited properly inroughly
27 years. The thing is
out of control; no one even knows what's going on.

That means there will be a massive collapse at some point…
and soon. Things can sometimes stay irrational longer than you can stay
solvent. But they can't stay irrational and mathematically impossible forever.

And, for this reason, the US government is now trying to
find anything it possibly can to steal from its tax slaves to stay alive just a
little while longer.

And, it was only a matter of time, until they zeroed in on
cryptocurrencies.

It seems a day doesn't go
by without the bureau-rats in Washington, District of Criminals, trying to
steal and extort money from people.

The latest is called the
"Combating Money Laundering, Terrorist Financing, and Counterfeiting Act
of 2017."

Forgetting all that, the new bill aims in part, to extend
sentences from five to TEN years in prison for US citizens who are caught
transporting more than $10,000 in cash without filling out the proper
declaration paperwork.

It's called "Civil Asset Forfeiture" and
surprise, surprise, there's nothing civil about it. It's really just another term
for legalized larceny. It gives road pirates the authority to plunder all your
booty - no warrant, no trial, and no due process required.

This bill takes a further
step to target bitcoin and wants to put any business which "issues"
cryptocurrency under this umbrella of anti-money laundering regulations. Plus,
bitcoin is included in the list of monetary instruments that must be reported
when entering or leaving the US.

The funny part is bitcoin and other cryptocurrencies
actually exist nowhere. When you "own" bitcoin you don't actually
have the bitcoin sitting in your pocket or in your house. What you have is a
key to a ledger with which you can then send bitcoin to other people.

But you never physically
hold it.

That's what makes this new
bill ridiculous. They want you to declare your cryptocurrencies you are
"holding" when you physically cross their imaginary line (called a
border).

The government just has no
clue how to deal with cryptocurrencies. What they don't know how to do is to
steal your cryptocurrency… because they can't.

And that's why we love
cryptocurrencies!

You know who hates
cryptocurrencies? Governments and central banks. Here's more proof.

SHOCKER! GERMAN CENTRAL
BANKER DOESN'T LIKE CRYPTOS

Most recently, the head of
the German central bank, Jens Weidmann took a jab at cryptocurrencies like
bitcoin claiming that if anything, the use of them will worsen the next
financial crisis.

Wait, how does he know
there is an upcoming financial crisis? Well, that's because it is baked in the
cake!

He stated - to paraphrase -
that digital currencies - whose flow can not be blocked by conventional means -
make an instant bank run far more likely, and in creating the conditions for a
run on bank deposits, lenders would be short of liquidity and struggle to make
loans.

Am I the only one who
doesn't see a problem with that? That's exactly what should happen so that
people wake up to the fact that their money is not safe in fractional reserve
banks!

Then, Weidmann continued to explain that if existing
banking payment systems could just be made more efficient, then that would stop
the public from flocking to cryptocurrencies.

He clearly doesn't understand why people love
cryptocurrencies. Nor does he understand just how evil central banking is.

Sure, cryptos are more efficient than wire transfers in
many cases, but that is absolutely not the sole reason people use them. Rather,
most people are attracted to their structure, or lack thereof - the fact that
many are decentralized. People have more confidence in decentralized payment
systems because they aren't attached to a physical headquarters that can be
attacked by government thugs.

And, furthermore,
cryptocurrencies cannot be inflated at will behind closed doors by a cabal of
communist style central planners. People also seem to like that a lot.

CONCLUSION

Jens Weidmann believes
cryptocurrencies will make the upcoming (planned) financial crisis worse than
it would have been otherwise because many people will pull out of the banking
system and into cryptocurrencies.

If so, expect
cryptocurrencies to skyrocket in the next crisis.

In this article, alone, we
have already described how the US government is trying to figure out how to
steal your cryptocurrencies. And, the German central bank is already front
running the next financial crisis and trying to blame it on cryptocurrencies.